Trade War – What is it good for?
It’s never a good thing when the word “war” is used to describe an issue. Yes, I’m talking about the “Trade War” the U.S. currently has with many, if not most, of our trading partners throughout the globe. Look, I understand the president’s point – trade with many of these nations is anything but fair. I watched former GM CEO Bob Lutz on CNBC this week talk about how it’s finally time something is done in regards to trade. He pointed out how American vehicles are at a disadvantage in Europe while European vehicles aren’t subject to as stringent tariffs. He also pointed out that this is the way the president negotiates. Maybe he’s right. But this trade war will hit our nation and state. The U.S. Chamber estimates an economic impact to California of almost $6 billion. As a someone who’s involved in economic development, any impact on the local economy scares me. Also, I’m a bit of a free trade nerd and hope that all of this is just nations puffing their respective chests before doing the right thing.
Last week, we closed an amazing year at the Chamber. We’re still putting the stats together, but it was a remarkable year. I’d like to thank all of our members for supporting the local economy by participating in YOUR chamber of commerce.
I hope to see you at next week’s Let’s Do Lunch at Islands – YUM!
Take it easy and have a nice weekend…find a place to stay cool!
It has been my experience that folks who have no vices have very few virtues. Abraham Lincoln